Boise Cascade (NYSE:BCC) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Boise Cascade (NYSE:BCC) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other equities research analysts have also issued reports on BCC. The Goldman Sachs Group decreased their price target on Boise Cascade from $140.00 to $122.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Loop Capital began coverage on shares of Boise Cascade in a research note on Friday, November 1st. They set a “buy” rating and a $155.00 target price for the company. Truist Financial raised their price target on shares of Boise Cascade from $154.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets upped their target price on shares of Boise Cascade from $130.00 to $136.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised their target price on shares of Boise Cascade from $120.00 to $124.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $139.60.

Boise Cascade Trading Down 0.3 %

BCC stock traded down $0.42 during mid-day trading on Wednesday, reaching $141.34. 19,815 shares of the stock traded hands, compared to its average volume of 308,663. Boise Cascade has a one year low of $102.13 and a one year high of $154.67. The stock has a market capitalization of $5.58 billion, a PE ratio of 12.36 and a beta of 1.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 3.28. The business has a 50-day moving average price of $136.25 and a two-hundred day moving average price of $132.57.

Boise Cascade (NYSE:BCC) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Boise Cascade had a return on equity of 20.17% and a net margin of 6.60%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $3.58 earnings per share. Equities research analysts expect that Boise Cascade will post 9.69 EPS for the current year.

Boise Cascade Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.84 annualized dividend and a yield of 0.59%. Boise Cascade’s dividend payout ratio (DPR) is presently 7.32%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Boise Cascade during the third quarter worth $28,000. Larson Financial Group LLC purchased a new stake in shares of Boise Cascade in the 2nd quarter valued at $36,000. iA Global Asset Management Inc. acquired a new position in Boise Cascade during the first quarter valued at $82,000. Daiwa Securities Group Inc. boosted its stake in shares of Boise Cascade by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 600 shares of the construction company’s stock worth $92,000 after buying an additional 500 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Boise Cascade by 33.4% during the second quarter. GAMMA Investing LLC now owns 787 shares of the construction company’s stock valued at $94,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 96.18% of the company’s stock.

Boise Cascade Company Profile

Boise Cascade Company engages in manufacture of wood products and distribution of building materials in the United States and Canada. It operates through two segments, Wood Products and Building Materials Distribution. The Wood Products segment manufactures laminated veneer lumber and laminated beams used in headers and beams; I-joists for residential and commercial flooring and roofing systems, and other structural applications; structural, appearance, and industrial plywood panels; and ponderosa pine shop lumber and appearance grade boards.